The central bank of Azerbaijan left the discount interest rate unchanged at a three-year high of 7.75% on April 29th 2022, citing no changes in the inflationary environment. The central bank recognized that although imported inflation continued to rise, it was significantly limited by surpluses in the external accounts and by strengthening nominal effective exchange rates. Policymakers also noted that inflation expectations by households declined, and forecast inflation to gradually return to target in the medium term. Looking ahead, the central bank sees an increased likelihood of a current account surplus for the whole of 2022. source: Central Bank of the Republic of Azerbaijan

Interest Rate in Azerbaijan averaged 6.86 percent from 2005 until 2022, reaching an all time high of 15 percent in September of 2016 and a record low of 2 percent in December of 2009. This page provides the latest reported value for - Azerbaijan Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Azerbaijan Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.

Interest Rate in Azerbaijan is expected to be 8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Azerbaijan Interest Rate is projected to trend around 7.00 percent in 2023, according to our econometric models.

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Azerbaijan Interest Rate



Related Last Previous Unit Reference
Interest Rate 7.75 7.75 percent Apr 2022
Money Supply M0 10525.20 10482.60 AZN Million Mar 2022
Money Supply M2 23597.10 23010.40 AZN Million Mar 2022
Foreign Exchange Reserves 7136.50 7158.00 USD Million Mar 2022
Money Supply M3 34910.50 33884.10 AZN Million Mar 2022
Money Supply M1 20249.70 19632.10 AZN Million Mar 2022

Azerbaijan Interest Rate
In Azerbaijan, interest rate decisions are taken by the Central Bank of Azerbaijan. The official interest rate is the Refinancing Rate.
Actual Previous Highest Lowest Dates Unit Frequency
7.75 7.75 15.00 2.00 2005 - 2022 percent Daily

News Stream
Azerbaijan Hikes Borrowing Costs
The central bank of Azerbaijan raised its refinancing rate by 0.25 percentage points to 7.75% on March 18th 2022, pushing borrowing costs to the highest since late 2019. The central bank also changed its rate corridor, raising the lower boundary to 6.25% from 6% and the upper boundary to 9.25% from 9%. Policymakers noted that although the country's annual inflation rate has declined, fundamental changes in the geopolitical environment have significantly increased uncertainty about the external background of inflation.
2022-03-18
Azerbaijan Hikes Interest Rate to 7.5%
The Central Bank of Azerbaijan raised its official discount rate by 25 basis points to 7.5% on January 28th 2022, citing an intensification of inflationary pressures in the global economy, namely in prices of food, raw materials, transportation and logistics. The 12-month inflation rate in Azerbaijan climbed to a four-year high of 6.7% in December, moving further away from the upper limit of the central bank target range of 2% to 6%. Governor Rustamov said that annual inflation is expected to be higher than the target range at around 6.6-7.5% in 2022, but it should return to the target in 2023.
2022-01-28
Azerbaijan Raises Interest Rate by 25 Bps
The Central Bank of Azerbaijan raised its official discount rate by 25 basis points to 6.5% on September 17th 2021, citing an intensification of inflationary pressures in the global economy, namely in prices of food, raw materials, transportation and logistics. The 12-month inflation rate climbed to 6.7% in August, deviating from the central bank target range of 2% to 6%, driven mostly by prices of food and services. Nonetheless, GDP advanced 3.6% in the January-August period of 2021 over the same period a year earlier, showing the economy remained on the growth trajectory amid ongoing macroeconomic stimuli and rising external and domestic demand. Looking ahead, policymakers said global commodity prices, import prices, pandemic-related production and logistical issues, and a faster growth rate of aggregate demand all constituted risk factors that could lead to stronger inflationary pressures.
2021-09-17